ConvertibleActiveBTC
0.875% Convertible Notes due 2031
MSTR-Mar31
$128.66▼ 0.16%
BTC Holdings
766,970 BTC
Total Debt
$18.60B
Leverage
10.9%
mNAV
0.82x
Outstanding
$603.75M
Insufficient history
Issue date
2024-03-19
Principal
$603.75M
Coupon
0.88%
Maturity
2031-03-15
Conversion price
$232.72
ITM Status
OTM (-44.7%)
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- Semi-annual
- Payment dates
- Mar 15, Sep 15
- Rate type
- Fixed
- Forced conversion
- On or after Mar 22 2028 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Put provision
- Holders may require repurchase on Sep 15 2028 at 100% of principal plus accrued interest, or upon fundamental change
- Use of proceeds
- BTC acquisition
Sources(2)
- $603M 0.875% Convertible …Press Release$603M 0.875% Convertible Notes due 2031Strategy Inc. — 2024-03-19
- Form 8-K (0.875% converti…FilingForm 8-K (0.875% convertible notes due 2031)Items 1.01/2.03MicroStrategy Incorporated — 2024-03-19
Participants
Holders & Underwriters(1)
- Form 8-K (0.875% converti…Citigroup Global Markets Inc.underwriter$603.8Mas of 2024-03-19Representative of the several initial purchasers
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2024-03-19 | Issuance | $603.75M | $603M 0.875% Convertible … |
- 2024-03-19 — $603,750,000press_release — Strategy Inc.Source